A pharma acquisition doesn’t have to be just with familiar faces

They already knew each other from a previous acquisition process where they sat on opposite sides of the deal table. So, when Marjan Quekel decided to sell her own pharma company, she did not hesitate to ask Jacques de Vries to facilitate the deal. He did this through his own network, but also by finding unknown and sometimes surprising parties via Dealsuite.

A (more than) extensive pharma company with ambition

When Marjan Quekel and pharmacist Bert Marskamp opened their first pharmacy in Meppel in 1999, she already saw that much more was possible in this industry. Within a few years, a second location followed in Assen and now the organisation 'Apotheken van Bartje' has grown into the largest group of independent pharmacies in Drenthe. With no less than 11 pharmacies, a service point, and their own pharmaceutical distribution center, the group's more than one hundred employees provide the best pharmaceutical care.“And now, after twenty-five years, it is time to hand over the company to a party that can invest in further growth and innovation,” Quekel believes.

During the acquisition of one of the last pharmacies of Bartje Pharmacies, Quekel got to know Jacques de Vries as a solid negotiator on the other side of the deal table. That made an impression and Quekel decided to approach De Vries at Indus advisers to find the right acquisition candidates. With years of experience in M&A of various pharma and healthcare institutions, De Vries not only has the necessary knowledge but also the network for this deal. “Even though we knew plenty of interesting parties together, Marjan and I both wanted to look beyond just the usual parties in this relatively conservative industry.”

Outside the industry, outside the Netherlands, outside the usual frameworks

"An organisation like the 'Apotheken van Bartje' isn't something you just offer anywhere. Normally, I wouldn't just offer a pharmacy organisation on Dealsuite either, but this organisation is obviously very special in all respects,” says De Vries.

Marjan Quekel has continued to grow her organisation over the past decades by consistently providing the best pharmaceutical services and also through (business) innovation. “I was simply very curious about what else could be found outside our industry. I want to give my organisation and my employees the opportunity to seize as many opportunities available on the market as possible. That's why, like Jacques, I thought it was a good idea to also offer the deal on Dealsuite. And that certainly didn't disappoint us, on the contrary,” she says.

Dealsuite soon brought in parties that neither Quekel nor De Vries knew about. “From the Netherlands, but also from Germany, Belgium, the UK, and France. We also received a very interesting offer from a private equity firm through Dealsuite.”

In the end, Quekel decided to go with a familiar party in the pharmaceutical field, but that had nothing to do with the deal or the future plans of the private equity firm. “I could really envision it, but they wanted me to stay on for another three years after the acquisition. Ultimately, I didn't prefer that. Besides, the party we selected is fully equipped to support pharmacists who wish to take over the business if they so desire. This is appealing to the young, entrepreneurial generation and aligns better with our needs” she explains.

Plenty of movement in pharma, providing opportunities for new acquirers

In recent years, there has been increasing activity in the pharma market, especially in the M&A sector, according to Quekel and De Vries. “There are a few large multinational players, but there are also quite a few pharmacists with multiple pharmacies in their possession who want to acquire more to continue growing. In addition, we see more and more people over sixty who want to offer their business for acquisition.”

According to De Vries, there isn't always a succession within pharmacy organisations. Or pharmacists may also want to explore opportunities for acquisition outside their organisation. “First, I always look at what the seller wants and then find a suitable party for them,” he says. “Such a pharmacy can also be very interesting for private equity firms."

Quekel agrees. "I definitely believe there is room for entrepreneurs with entrepreneurship, both from outside and within the pharmacy sector, especially for young people with innovative ideas. From preventive care to the logistics of medicine distribution, there is still so much to be done within our industry. In short, a market that is very interesting for multiple parties!”